BNY Mellon Chosen To Oversee US Treasury's Direct Express Program - What's On the Cards?

The Bank of New York Mellon Corporation (NYSE:BK) shares are trading higher on Thursday.

The U.S. Department of the Treasury’s Bureau of the Fiscal Service has appointed BNY Mellon as the financial agent for the Direct Express prepaid debit card program.

This five-year agreement, which begins on January 3, will provide secure and easy access to federal benefit payments for approximately 3.4 million Americans.

BNY Mellon was selected after a comprehensive evaluation of proposals from multiple financial institutions.

The Treasury chose BNY Mellon for its wide range of customer service ...

Full story available on Benzinga.com